Norges Bank Portfolio holdings
Norges Bank, established in 1816 and headquartered in Oslo, Norway, serves as the central bank of Norway, responsible for monetary policy, issuing the Norwegian krone, and maintaining financial stability. Beyond its traditional central banking role, it oversees the management of the Government Pension Fund Global (often called the Norwegian Oil Fund), one of the world’s largest sovereign wealth funds, valued at over $1 trillion, which invests Norway’s oil and gas revenues in global equities, bonds, and real estate. The fund’s investment arm, Norges Bank Investment Management (NBIM), operates independently to ensure long-term wealth preservation for future generations, emphasizing sustainable and ethical investing practices. With its dual role, Norges Bank uniquely blends central banking duties with stewardship of a massive global investment portfolio.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$1.31B |
| 2 |
Visa
V
|
+$778M |
| 3 |
SCHW
Charles Schwab
SCHW
|
+$528M |
| 4 |
Fortinet
FTNT
|
+$418M |
| 5 |
Prologis
PLD
|
+$340M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$2.06B |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$1.83B |
| 3 |
NVIDIA
NVDA
|
+$1.56B |
| 4 |
Meta Platforms (Facebook)
META
|
+$1.47B |
| 5 |
UBS Group
UBS
|
+$1.44B |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.04% |
| 2 | Financials | 15.62% |
| 3 | Healthcare | 11.22% |
| 4 | Consumer Discretionary | 10.85% |
| 5 | Communication Services | 9.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1226
Genworth Financial
GNW
$3.75B
| $15.7M | ﹤0.01% |
2,217,351
+66,603
| +3% | +$463K |
|
1227
CRISPR Therapeutics
CRSP
$5.74B
| $15.5M | ﹤0.01% |
456,060
+12,524
| +3% | +$531K |
|
1228
Ralph Lauren
RL
$21B
| $15.5M | ﹤0.01% |
70,099
+15,467
| +28% | +$3.83M |
|
1229
Under Armour Class C
UA
$2.13B
| $14.9M | ﹤0.01% |
2,505,069
| – | – |
|
|
GTM
1230
ZoomInfo Technologies
GTM
$1.19B
| $14.8M | ﹤0.01% |
1,477,690
-143,858
| -9% | -$1.51M |
|
1231
Cable One
CABO
$128M
| $14.7M | ﹤0.01% |
55,312
+22,192
| +67% | +$6.48M |
|
|
CWEN.A
1232
DELISTED
Clearway Energy Class A
CWEN.A
| $14.7M | ﹤0.01% |
515,608
| – | – |
|
1233
Lucid Motors
LCID
$2.01B
| $14.6M | ﹤0.01% |
604,987
+292,189
| +93% | +$7.81M |
|
1234
Amkor Technology
AMKR
$12.9B
| $14.5M | ﹤0.01% |
801,256
-463,025
| -37% | -$10.5M |
|
1235
Choice Hotels
CHH
$4.89B
| $14.4M | ﹤0.01% |
108,145
| – | – |
|
1236
Organon & Co
OGN
$3.61B
| $14.3M | ﹤0.01% |
963,733
-729,183
| -43% | -$11.2M |
|
|
NVMI
1237
Nova
NVMI
$11.8B
| $14.2M | ﹤0.01% |
77,630
+20,084
| +35% | +$4.64M |
|
1238
F&G Annuities & Life
FG
$3.09B
| $14.1M | ﹤0.01% |
391,584
+46,000
| +13% | +$1.93M |
|
1239
Skywest
SKYW
$3.84B
| $14.1M | ﹤0.01% |
161,400
-76,800
| -32% | -$7.86M |
|
|
FLG
1240
Flagstar Bank National Association
FLG
$5.58B
| $14.1M | ﹤0.01% |
1,213,443
+44,508
| +4% | +$501K |
|
|
TGI
1241
DELISTED
Triumph Group
TGI
| $13.9M | ﹤0.01% |
548,500
-306,000
| -36% | -$7.08M |
|
|
GRFS
1242
Grifois
GRFS
$5.32B
| $13.8M | ﹤0.01% |
1,940,000
| – | – |
|
1243
Power Integrations
POWI
$3.09B
| $13.7M | ﹤0.01% |
271,489
-47,200
| -15% | -$2.82M |
|
1244
Sony
SONY
$141B
| $13.7M | ﹤0.01% |
538,250
| – | – |
|
1245
Matsons
MATX
$6.64B
| $13.4M | ﹤0.01% |
104,495
-155,188
| -60% | -$21.3M |
|
1246
Zillow
Z
$7.97B
| $13.4M | ﹤0.01% |
194,928
-20,105
| -9% | -$1.54M |
|
1247
Toro Company
TTC
$9.47B
| $13.4M | ﹤0.01% |
183,620
+29,076
| +19% | +$2.3M |
|
1248
Sotera Health
SHC
$5.56B
| $13.2M | ﹤0.01% |
1,133,669
+200,600
| +21% | +$2.58M |
|
1249
Autohome
ATHM
$2.6B
| $13M | ﹤0.01% |
469,961
| – | – |
|
1250
BrightSpring Health Services Unit
BTSGU
$1.62B
| $13M | ﹤0.01% |
200,290
| – | – |
|
Similar funds
Norges Bank's Q1 2025 Portfolio in Review
As of Q1 2025, Norges Bank held 1,892 positions worth $712B, down 6.5% from $762B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Norges Bank's Q1 2025 filing shows 47 new, 694 increased, 865 reduced and 149 closed positions. Its largest new stake was Rocket Lab Corp: 4,017,216 shares worth $71.8M. The largest sale was Microsoft, an estimated $2.06B.
By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 31% a quarter earlier, followed by Financials and Healthcare.
- Norges Bank's largest Q1 2025 buy was Rocket Lab Corp: 4,017,216 shares worth $71.8M.
- Norges Bank added most to Alphabet (Google) Class A in Q1 2025, an estimated $1.31B increase.
- Norges Bank's biggest Q1 2025 reduction was Microsoft, cutting an estimated $2.06B.
- Norges Bank fully exited HashiCorp, Inc. Class A Common Stock in Q1 2025, selling an estimated $161M.
- Norges Bank's ten largest holdings make up 30% of its $712B portfolio in Q1 2025.
- Norges Bank opened 47 new positions and closed 149 in Q1 2025.
- Norges Bank's portfolio value fell 6.5% quarter-over-quarter to $712B.
Based on Norges Bank's 13F filing for Q1 2025, filed 13 May 2025.